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20120925
20121003
Search Results 0 to 8 of about 9 (some duplicates have been removed)
.4%. for three straight quarters, the european economy has been rinking and federal reserve chairman ben bernanke said today amica is feeling the impact. >> it has been a problem for the oblemeconomy. we have seen head winds coming from slowing trade. >> reporter: if you combine rtports and exports, the european union is our biggest trading partner. >> so we have a very strong troerest in europe solving its problems. >> reporter: but the problem won't be solved quickly says ian brehmer who heads the eurasia group, a global research firm. oup,hat brings the europeans back to growth? no one started to address that issue. it's like saying what's going to bring the united states back to e healthy and manageable deficit. ck reporter: and the more imminent threat to the economy may be the so-called fiscal cliff. lledratings agency fitch has genc uncertainty about u.s. fiscal policy is the single- olggest near-term threat to the global recovery. >> winston churchill once said that the americans always do the right thing but only after extinguishing every other possibility. ther is precisely what the ame
chairman ben bernanke defended a controversy program to buy up $40 billion in mortgage debt every month until employment improves. the slowing economic recovery forced the feds to resort to such unusual measures after lowering interest rates to next to nothing failed to turn things around. critics of the plan say it could lead to inflation in the future. an amtrak train has derailed in central california after officials say a big rig truck slammed right into it just south of fresno. as many as 40 people reported hurt in the crash. when several cars jumped the tracks. trace gallagher in our west coast news hub now. trace, exactly how did this happen. >> well, the train was heading south from oakland to bakersfield. it crashed in a town called hanford which is 30 miles outside fresno it appears that a truck carrying a cotton by product actually blue through the signal and crashed into the train. it looks like three of the five railcars are off the track. you can see two of them there at a 45-degree angle. the people inside were tossed about. 169 on board. 40 injured. at last check 17 were
's the one thing we need to know? >> we heard from ben bernanke yesterday. the federal reserve chief. he's a scholar of the great depression. he is pledging again, ladies, that we are going to avoid another great depression. he's promising to keep stimulus going until even after, even after the economy starts to recover to make sure we don't repeat the mistakes made into the 1930s, which is when we pulled our foot off the accelerator too soon in the economy, and just as it was starting to recover we started to tighten monetary policy and boom, threw the economy into the second great depression. the great depression scholar ben bernanke is trying everything we can to make sure we don't fall down again. >> it's comforting to hear that, isn't it? >> well, some people are concerned that it will cause inflation down the road but everyone is trying to keep the ship staling right now. >> all right. and you've got road warriors? >> that's right. another road warriors for you. if you're a business traveler, looking to meet others while you're on a trip, good news. there are now plenty of apps and
, the person who coined the term looks like it was ben bernanke, federal reserve chairman. he used the term earlier this year. so also at the same time, we've got health reform coming in with new levies on investment. >> gretchen: new taxes? that would be coming at the same time. this is up to congress or the president? who needs to do something? >> here is the issue, depends on who wins and how the lay of the land will g depending on who wins the election. if the president wins reelection, you'll possibly see gridlock. now the talk is to just let them expire temporarily and then do a quick fix for everybody but the upper bracket, so that way you could say look, we passed a tax cut and we did raise taxes on the upper bracket. if mitt romney, then he'll probably say i need time to fashion a budget. i'll have to do this in 2013. there may be delay. in that case, in either scenario, the u.s. congress would say to the irs look, adjust the tax withholding tables and so until we deal with this. so it's not an open and shut case. everybody will see their tax rates go up or tax go up january 1. the
immediately we will not have an economy by monday. >> this is ben bernanke the chairman of the federal reserve. and this is a friday you were saying? >> a thursday night. >> and he's saying if you didn't take emergency action. >> we would not have an economy by monday. >> what does that mean? >> it's a horrible prospect. it means everything would disintegrate in terms of financial transactions and the rest. we went out and said time is of the essence regardless of the fact there was a presidential election seven weeks away. this happened on the president's watch. he was suggesting a solution. i said we must work together in a bipartisan way to get this done. but the fact is is that they knew, they were withholding the information from congress because they were hoping to get to the election, in my view. but the fact is four years ago the end of september if we didn't act immediately, we would not have an economy by monday. that would have been a disaster for our country. so while we want to do more to help individual families and the republicans instructed that in the last two years, the fact
Search Results 0 to 8 of about 9 (some duplicates have been removed)